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Greater Niagara Chamber of Commerce

Daily Update: January 22, 2025

In this edition:

  • BCM opens Community Grants Program for Niagara
  • Canada delivers $91.5M in funding for homelessness to regions including Niagara
  • Lincoln, Welland announce advocacy priorities from ROMA
  • Peavey Mart closing two Niagara locations
  • Raw material prices in Canada up 9.1% year-over-year
  • Focus on Finance & Economy

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Handful of coins with growing sprout, closeup view

Photo credit: Africa Studio / Adobe Stock

BCM opens Community Grants Program for Niagara

Each year, BCM Insurance allocates funds to give back to the local community, aiming to create positive social, environmental, and economic impacts. The goal is to help build sustainable, livable, and thriving communities throughout Niagara.

Applications for 2025 are open until February 3rd.

Click here to read more.


A homeless camp in a park

Picture credit: Erman Gunes / Adobe Stock

Canada delivers $91.5M in funding for homelessness to regions including Niagara

Today, the federal government announced that agreements to support people living without homes, including in encampments, have been signed with nine additional Ontario municipalities: Durham, Toronto, Peel, York, Hamilton, Niagara, Waterloo, Ottawa, and Sudbury, and two Saskatchewan cities: Regina and Saskatoon. Under these agreements, the federal government will provide a total of more than $91.5 million, over two years.

The municipalities will match federal funding.

Click here to read more.


A speaker addresses a conference

Picture credit: .shock / Adobe Stock

Lincoln, Welland announce advocacy priorities from ROMA

Joined by delegates from across the province, the Town of Lincoln and the City of Welland brought forward local priorities at the Rural Ontario Municipal Association (ROMA) 2025 Conference in Toronto, Ontario, from January 19 to 21, 2025.

Both municpal governments have released statements on the projects they highlighted and their success at the conference.

Click here to read more.


The exterior of a Peavey Mart store

Picture credit: Peavey Mart / supplied

Peavey Mart closing two Niagara locations

Peavey Mart has announced the closure of 22 locations in Ontario and Nova Scotia, including stores in St. Catharines and Grimsby.


Stacked silver bars

Picture credit: Remigiusz Góra / Adobe Stock

Raw material prices in Canada up 9.1% year-over-year

Prices of products manufactured in Canada increased 4.1% year over year, while the prices of raw materials grew 9.1%, Statistics Canada reported today.

Prices for unwrought gold, silver, and platinum group metals, and their alloys (+32.4%) were the main contributor to the price index‘s rise. Prices for these metals increased frequently throughout 2024 as geopolitical uncertainty boosted demand for safe haven assets and falling interest rates made precious metals more attractive to investors.

Click here to read more.


Did you know?

The Town of Pelham is calling on residents to name its new snowplow.


Focus on Finance & Economy

Will the Bank of Canada cut interest rates again? Here’s what experts say

We’re more than halfway through January, and the Bank of Canada’s next interest rate announcement is coming on Jan. 29.

Currently, the overnight lending rate is at 3.25 per cent — down from five per cent a year ago.

The rate is what banks and money lenders use to calculate the interest on your loan or mortgage.

But will more cuts be on the agenda? Here’s what a few money experts predict:

According to TD economist James Orlando, current data points toward a cut of 25 basis points, or a quarter per cent.

Click here to read more.


Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.

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